Blockchain Transactions: On-Chain vs Off-Chain EXPLAINED

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In the world of cryptocurrency, there are two main types of transactions: on-chain and off-chain. On-chain transactions occur directly on the blockchain, while off-chain transactions happen outside the blockchain.

But what exactly is the difference between them? Let's find out in this video!

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Timestamps:
00:00 Intro
00:16 What Is On-chain transactions
00:45 Pros and Cons of On-chain transactions
01:23 Example of On-chain transactions
01:43 What Is Off-chain transactions
02:30 Pros and Cons of Off-chain transactions
03:12 Example of Off-chain transactions
03:40 Outro

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#onchain #offchain #transaction #cryptotransactions #bitcoin #ethereum #decentralized #cryptocurrency#crypto #marketcap #finance #blockchain

Рекомендации по теме

Комментарии

Which type of transactions do you use the most? Is it on-chain or off-chain?🔎

CoinGecko

it kind of depends: if I am doing defi (regular, smaller transactions - more similar to my credit card) then offchain but if I am transferring some newly purchased digital gold (bitcoin) then I would prefer onchain. I think there are two specific use cases and both equally valid.

anderigs

On chain, security is the number one priority!

allmancc

Please how can i fix this error i'm getting whenever i try to send out BTC ''Oops! Something went wrong while executing the BTC on-chain transaction'' blockchain

VictoriaRichard-ie

I use the lightning network to use sats as money so off chain for me layer 2 solutions, doesn't bloat the blockchain only using the blockchain to settle the payment

nitemare

Can you guys help me please? Cause i don't fully understand yet, from what i catch is something like this
CEX transaction is off chain
DEX transaction is on chain
But please correct me if I'm wrong
From CEX to CEX = off chain
From DEX to DEX = on chain
But how about
From DEX to CEX = ?
Or
From CEX to DEX = ?

gzgreyzone

On chain works for me. I think it's more secured and than off chain.

periccoma

Transactions of any meaningful value, always on chain.

Thomas.

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